LSV Asset Management Acquires 1,686,900 Shares of RingCentral, Inc. $RNG

Key Points

• LSV Asset Management sharply boosted its RingCentral stake, increasing holdings by 142.4% in the fourth quarter to 2.87 million shares worth about $82.9 million. The firm now owns 3.32% of the company.
• RingCentral insiders have been selling shares, including COO Kira Makagon and CFO Vaibhav Agarwal, with 219,158 shares sold by insiders over the last 90 days. Insider ownership stands at 7.30%.
• The company beat earnings expectations and raised guidance, reporting $1.20 EPS on $644.2 million in revenue and setting FY2026 EPS guidance of 4.85 to 5.01. The stock also moved up 3.2% to $43.57, while analysts currently rate it a consensus Hold with a $43 target price.

LSV Asset Management increased its holdings in shares of RingCentral, Inc. (NYSE:RNG - Free Report) by 142.4% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 2,871,700 shares of the software maker's stock after purchasing an additional 1,686,900 shares during the quarter. LSV Asset Management owned 3.32% of RingCentral worth $82,935,000 as of its most recent filing with the SEC.

A number of other large investors have also bought and sold shares of the business. Global Retirement Partners LLC increased its stake in RingCentral by 70.9% during the 4th quarter. Global Retirement Partners LLC now owns 1,540 shares of the software maker's stock worth $44,000 after purchasing an additional 639 shares in the last quarter. Leonteq Securities AG bought a new stake in RingCentral during the 4th quarter worth approximately $66,000. Covestor Ltd increased its stake in RingCentral by 198.5% during the 4th quarter. Covestor Ltd now owns 1,594 shares of the software maker's stock worth $46,000 after purchasing an additional 1,060 shares in the last quarter. Pinnacle Associates Ltd. increased its stake in RingCentral by 4.0% during the 4th quarter. Pinnacle Associates Ltd. now owns 22,364 shares of the software maker's stock worth $646,000 after purchasing an additional 850 shares in the last quarter. Finally, VIRGINIA RETIREMENT SYSTEMS ET Al increased its stake in RingCentral by 4.6% during the 4th quarter. VIRGINIA RETIREMENT SYSTEMS ET Al now owns 91,463 shares of the software maker's stock worth $2,641,000 after purchasing an additional 4,000 shares in the last quarter. 98.61% of the stock is owned by institutional investors.

Insider Buying and Selling

In other news, COO Kira Makagon sold 5,870 shares of the stock in a transaction that occurred on Monday, April 27th. The stock was sold at an average price of $40.27, for a total value of $236,384.90. Following the completion of the sale, the chief operating officer owned 236,715 shares of the company's stock, valued at approximately $9,532,513.05. This represents a 2.42% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Vaibhav Agarwal sold 4,044 shares of the stock in a transaction that occurred on Thursday, May 21st. The shares were sold at an average price of $42.06, for a total value of $170,090.64. Following the completion of the sale, the chief financial officer directly owned 132,181 shares of the company's stock, valued at approximately $5,559,532.86. The trade was a 2.97% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last 90 days, insiders sold 219,158 shares of company stock worth $7,906,365. 7.30% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

RNG has been the subject of a number of research reports. Jefferies Financial Group reissued a "hold" rating and set a $40.00 target price on shares of RingCentral in a research note on Saturday, May 9th. Mizuho increased their target price on RingCentral from $27.00 to $32.00 and gave the stock a "neutral" rating in a research note on Friday, February 20th. Wells Fargo & Company increased their target price on RingCentral from $32.00 to $43.00 and gave the stock an "equal weight" rating in a research note on Friday, May 8th. Oppenheimer reaffirmed an "outperform" rating and set a $50.00 price target on shares of RingCentral in a research report on Friday, May 8th. Finally, UBS Group set a $38.00 price target on shares of RingCentral in a research note on Friday, February 20th. Three research analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the stock. According to MarketBeat.com, RingCentral presently has a consensus rating of "Hold" and a consensus target price of $43.00.

RingCentral Trading Up 3.2%

NYSE RNG opened at $43.57 on Friday. The company has a market cap of $3.66 billion, a PE ratio of 46.35, a PEG ratio of 1.28 and a beta of 1.13. RingCentral, Inc. has a 12 month low of $23.59 and a 12 month high of $48.57. The stock has a 50 day moving average of $39.56 and a 200-day moving average of $33.13.

RingCentral (NYSE:RNG - Get Free Report) last released its quarterly earnings data on Thursday, May 7th. The software maker reported $1.20 EPS for the quarter, beating the consensus estimate of $1.17 by $0.03. The company had revenue of $644.20 million during the quarter, compared to the consensus estimate of $642.73 million. RingCentral had a negative return on equity of 33.75% and a net margin of 3.31%.The firm's revenue for the quarter was up 5.3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.00 EPS. RingCentral has set its FY 2026 guidance at 4.850-5.010 EPS and its Q2 2026 guidance at 1.150-1.170 EPS. As a group, sell-side analysts predict that RingCentral, Inc. will post 2.79 EPS for the current fiscal year.

RingCentral Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 11th. Stockholders of record on Tuesday, June 2nd will be issued a $0.075 dividend. This represents a $0.30 annualized dividend and a dividend yield of 0.7%. The ex-dividend date of this dividend is Tuesday, June 2nd. RingCentral's dividend payout ratio is presently 31.91%.

RingCentral Profile

RingCentral, Inc is a leading provider of cloud-based business communications and collaboration solutions. The company’s flagship platform delivers unified communications as a service (UCaaS), integrating voice over IP (VoIP) phone systems, video conferencing, team messaging and SMS into a single, cloud-native application. In addition to its UCaaS offering, RingCentral provides contact center as a service (CCaaS) capabilities, enabling organizations to manage customer interactions across voice, email, chat and social channels from a centralized dashboard.

Founded in 1999 and headquartered in Belmont, California, RingCentral went public on the New York Stock Exchange under the ticker RNG in 2013.

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